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ADT holds strategic talks with investment firm; shares up

The ADT Corp. has been making headlines ever since it split off from Tyco International on Sept. 28. Here’s the latest from Reuters news service today:

ADT Corp ... said on Thursday that it had held constructive discussion with Corvex Management LP, an investment firm that has taken a 5.02 percent stake.

Founded by Keith Meister, one of activist investor Carl Icahn's longtime associates, Corvex said in a filing with the U.S. Securities and Exchange Commission that it believed ADT shares were undervalued and had met with management to discuss strategy. It may buy additional shares.

The purchases began on September 17, when ADT began trading on a when-issued basis, and continued once the stock began trading on the open market on October 1.

As managing editor, Tess helps oversee editorial content and works on developing a rapport with industry leaders to report and write on industry news, concentrating on the fire and residential beats. She focuses on writing stories important to installers, integrators, manufacturers and distributors. Before joining Security Systems News in September 2010, Tess was a newspaper reporter in Maine for more than two decades. Most of that time, she worked for The Portland Press Herald/Maine Sunday Telegram, and also was an occasional stringer for The New York Times. Tess has a master’s degree in journalism from Columbia University and a master’s in linguistics from the University of Michigan. She lives in Maine with her husband and a demanding cat.